|
ARB
ARH
ARH - ARB Holdings Limited - Press statement
ARB Holdings Limited
("ARB HOLDINGS")
(Incorporated in the Republic of South Africa)
(Registration number 1986/002975/06)
Share code: ARH & ISIN ZAE000109435
("ARB")
ARB HOLDINGS LIMITED
("ARB HOLDINGS")
ARB Holdings listed yesterday on the main board of the JSE Limited.
For the purposes of factual accuracy, ARB CEO Craig Robertson has clarified
the relationship between black-owned Batsomi Power (Pty) Limited ("Batsomi
Power") and ARB Electrical Wholesalers (Pty) Limited ("ARB Electrical
Wholesalers"), a subsidiary of ARB Holdings:
"From an ARB perspective, there is no merit in the allegations leveled in the
press regarding claims of an alleged entitlement by third parties to the 26%
stake held by Batsomi Power in ARB Electrical Wholesalers. This is borne out
by the fact that no legal proceedings have been instituted by any party to lay
claim to this shareholding despite the considerable lapse of time since 2005
when Batsomi Power originally acquired its stake in ARB Electrical
Wholesalers."
Batsomi Power is a 100% subsidiary of Batsomi Investment Holding (Pty) Limited
("the Batsomi group"). On 1 December 2005 ARB Electrical entered into an
agreement with Jacob Modise ("Modise") in his capacity as Chairman of the
Batsomi group in respect of a black economic empowerment transaction with ARB
Electrical Wholesalers ("the BEE deal"). At no time did ARB Electrical
Wholesalers consider, contemplate and/or enter into discussions with Messrs.
Jonty Sandler and Phillip Dexter, Tladi Holdings (Pty) Limited, Nehawu
Investment Holdings or any other party in respect of the BEE deal.
Neither ARB Holdings nor ARB Electrical Wholesalers is involved in any way in
the disputes between Jacob Modise, the Batsomi group and these parties, which
are unrelated to ARB.
Issued by : Envisage Communications
Nicole Katz
(011) 325 5944/083 287 2771
On behalf of : ARB Holdings Limited
Craig Robertson, CEO
(031) 910 0204/ 082 827 0111
Issue date : 21 November 2007
Date: 21/11/2007 17:28:29 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
